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Written question asked by John Glen (Conservative) on Tuesday, 29 April 2025, in the House of Commons. It was due for an answer on Thursday, 1 May 2025. It was answered by Emma Reynolds (Labour) on Thursday, 8 May 2025 on behalf of the Treasury.

Environment Protection: Finance

Question

To ask the Chancellor of the Exchequer, pursuant to the answer of 4 March 2025 to Question 33375 on Environment Protection: Finance, whether the defence sector will be included in the UK Green Taxonomy.

Answer

The government has set out its ambition for the UK to be the world leader in sustainable finance. This includes delivering a regulatory framework to support sustainable growth and enable the private sector to realise the opportunities of the transition. Through the consultation, the government was keen to explore whether a UK Green Taxonomy can be a useful tool in contributing to this ambition.

The government is reviewing and analysing the consultation responses, this includes considering the potential costs and how it fits in with existing regulation and regimes. We will publish a formal consultation response in due course which will set out next steps.

At this stage in the consultation process, the government was not seeking feedback on the detail of the sectors for inclusion. Instead, the government are focused on the bigger picture of whether and how this can be a useful tool for companies and investors. Therefore, at this stage issues around activities and sectors, such as defence, are out of scope.

Secondary information

Type
Written question
Reference
48884
Session
2024-26
Related items
Environment Protection: Finance
Tuesday, 4 March 2025
Written questions
House of Commons
Subjects
Defence Finance Environment protection Technology
Link
View this Written question on www.parliament.uk